Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 141,441 shares of the information services provider’s stock after selling 4,344 shares during the quarter. Alphabet comprises about 2.1% of Tritonpoint Wealth LLC’s holdings, making the stock its 8th largest position. Tritonpoint Wealth LLC’s holdings in Alphabet were worth $22,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC increased its stake in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after acquiring an additional 1,376 shares during the last quarter. Harvest Investment Services LLC increased its stake in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after acquiring an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new stake in shares of Alphabet during the 4th quarter worth about $281,000. Finally, Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $175.88 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business’s fifty day moving average price is $164.57 and its two-hundred day moving average price is $176.30. The firm has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Westpark Capital restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, KeyCorp decreased their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.